Sir, which book is most suitable for these subjects i.e., accountancy, business studies, english, economics? Can I get admission in BSc food processing technology in BIT Mesra after passing 12th with 51% aggregate? The Progressive Economics Forum aims to promote the development of a progressive economics community in Canada. Here are, in no particular order, my picks for the four best books of 2012 from a progressive economics perspective. Rogue Economics by Loretta Napoleoni Report this Page Buy this BookWhat do Eastern Europe's booming sex trade, America's subprime mortgage lending scandal, China’s fake goods industry, and celebrity philanthropy in Africa have in common? Homepage Privacy Policy DMCA Policy Disclaimer Frequently Asked Questions ContactAbout the authorLoretta Napoleoni - Loretta Napoleoni is the bestselling author of Maonomics, Rogue Economics, Terror Incorporated and Insurgent Iraq.
In this, the sixth year of global expansion, the crisis of 2008 is slipping into history, and steady but unsatisfying growth has become the new norm. Wolf brings a clarity to the discussion of economic issues that has been sorely lacking in the United States. Wolf starts by emphasizing two facts that were largely ignored in the political dickering between 2008 and 2011 in Europe as well as in the United States. Leaving central banks to fight the downturn with easy money while tightening fiscal policy has brought only a sluggish economic revival. Wolf’s argument is controversial, but it is rigorous and coherent, and it laments a kind of fatalism among policymakers. Fraser displays a longing for the good old days and a great deal of condescension toward the members of the U.S.
Each of these books aims to jolt readers out of complacency about economic growth, albeit for different reasons: that there is too little (as Wolf argues), that it is shared too unequally (as Fraser laments), or that it is too reckless (as Philipsen charges). Articles published in strategy+business do not necessarily represent the views of the member firms of the PwC network. All opinions belong to the writer; however, writers are expected to adhere to our guidelines. The PEF brings together over 200 progressive economists, working in universities, the labour movement and activist research organizations.
She is an expert on terrorist financing and money laundering, and advises several governments and international organizations on counter-terrorism and money laundering.
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One is the sheer scale of the catastrophe, a scale that public officials and central bankers were slow to recognize and to admit. Yet in almost all the high-income countries, governments were spooked by large budget deficits. In The Age of Acquiescence: The Life and Death of American Resistance to Organized Wealth and Power, Steve Fraser, a historian who specializes in Wall Street and the labor movement, likewise finds the political response to rapidly changing economic conditions lacking.
But The Age of Acquiescence is not up to the standards of Fraser’s previous work, which includes a biography of labor leader Sidney Hillman and a history of Wall Street. Philipsen, a fellow in ethics at Duke University, purports to be writing a history of national income accounting. The quest for ever-higher GDP, in his view, rewards activities that are not sustainable (drilling for oil) and discourages activities that are sustainable (walking to work). But improving the way we measure a nation’s economic health is harder than Philipsen suggests. Each is pessimistic about the ability of the political system to address the problems it highlights.
Reviews and mentions of publications, products, or services do not constitute endorsement or recommendation for purchase.
All document files are the property of their respective owners, please respect the publisher and the author for their copyrighted creations. This was no ordinary recession; 2009 was the first year since World War II in which the global economy shrank.
And when they avoided additional spending, they helped drag out the very economic conditions that were depressing tax revenues.
Most major economies are growing more slowly than they did in the years prior to 2007, far too slowly to recover the output lost in the depths of the downturn. Some central banks have made use of monetary policies that are quite radical, at least by conventional standards, but in no wealthy country is the government using its spending powers as aggressively as Wolf would like to see. It contains no primary research, and the author’s secondary sources are heavily slanted toward historians who are sympathetic to his thesis.
Vehicle repairs following a car wreck make GDP bigger, but, unless they result in loss of work, the pain and suffering of the driver do not make GDP smaller.
More recently, statistical services in a number of countries have tried to figure out how GDP might reflect the loss of species and the use of nonrenewable resources.
Napoleoni posits that "rogue economics has resurfaced because the world is experiencing a profound transformation, perhaps the biggest in history." Yet, she doesn't really drive that point home because she gets caught up in far too many case studies.
The debacles of 2008 and 2009 gave rise to scores of well-written, passionately argued books that described those debacles’ origins, documented their fallout, and provided advice on how to prevent the next crisis. As the chief economics commentator of the Financial Times (and an especially trenchant one), he holds no particular brief for political parties, on either the right or the left. In both the United States and the United Kingdom, Wolf points out, gross domestic product in 2011 was a whopping 13 percent less than it would have been had economic growth continued at its average rate from 1980 to 2007. The governments left it to central banks to fight the downturn with easy money while tightening fiscal policy.
On the contrary, the ruling orthodoxy everywhere has called for fiscal rectitude, and governments are striving to bring their budget deficits under control. The first half of the book offers a thorough explanation of how the statistical concepts behind GDP were developed, mainly in the 1930s and 1940s.
What they have in common is that they require weighting variables whose importance is highly subjective and quite individual.
This turns out to be all but impossible to do in any rigorous way: Given that planet Earth contains a very large amount of iron, it is not obvious that mining a ton of iron today affects the amount available tomorrow and, if it does, it is not clear how that effect should be quantified.
It may not be feasible to achieve the faster economic growth Martin Wolf would like to see.

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While the general thrust of the argument is now familiar, this book is a formidable synthesis and meticulously sourced. Wolf’s general view is that President Obama and his counterparts in other wealthy countries were far too timid in confronting the crisis and its lingering effects. This, Wolf asserts, has brought only a sluggish economic revival while potentially creating dangerous new financial excesses.
Back in the Gilded Age, the expansion of corporate power brought a popular reaction that led to the reforms of the Progressive Era, such as the income tax and antitrust laws, and a suspicion of big business that endured long enough to enable Franklin Delano Roosevelt to push through Social Security, the National Labor Relations Act, and a host of other measures intended to aid workers. But after pointing out many of the conceptual problems with GDP, he climbs on a high horse. Simon Kuznets, the economist who developed many of the statistical series underlying GDP, frequently spoke of the concept’s limitations. A variety of factors, including globalization and technological change, may have made it impossible for government to divide income gains as equally as Steven Fraser might like without driving capital away. This year’s lot, it must be said, does not measure up to the standards of previous years. This is implausible, particularly because low rates of labor-force expansion and an aging population are likely to bring slower economic growth in the future.
Progress in addressing the causes of climate change is more likely to come in dribs and drabs than with the sort of sweeping reforms Dirk Philipsen thinks appropriate. Are mock test papers best for the preparation?What is the chance to get M.A in economics after completing B.A in economicsWhat is the detailed syllabus for PSI and STI mains? In 336 pages, she discusses the manifestation of rogue economics in Eastern European prostitution, the Italian mafia, Post-Wall Berlin, communist China, virtual worlds, fishing and pirates, and the world of sports. The world of the 21st century is the only one we have, and it is futile to wish for another. I had a hard time finding an intelligible string between these examples.The silver lining was that I finished this book the week that President Obama was inaugurated. Rogoff in their 2009 book, This Time Is Different: Eight Centuries of Financial Folly, economic downturns associated with financial crises tend to hit government finances much harder than garden-variety recessions.
It may well be that workers in the service and information industries, where much employment is now concentrated, don’t see a solution to their workplace problems in a union contract that sets staffing levels and protects less able colleagues from dismissal. Napoleoni believes that nations need to work together to instate policy because when they fail to do so, the unintended result is rogue economics. Tax revenues plummet, even as spending for bank bailouts, unemployment benefits, and income-support programs expands.
To sum up, this book will not leave you with a lot of concrete knowledge that you can use in thinking about or discussing economics. While written from a critical perspective and while the authors are well aware of the many contradictions of neoliberal capitalism in the wake of the crisis, they struggle to end on a hopeful note. And so we’ve seen a notable increase in books that aim to tell politicians what they should do about the greatest economic challenges we face, and that point out fissures over economics within countries, and within political parties. When we buy a wedding ring produced with gold mined by Congolese children working for ruthless warlords, smuggled to Uganda, and sold with forged documents of origin by crooked trading companies, we establish a commercial link with the sinister underworld of Africa’s illegal and criminal economy.-The infamous Arizona Market, in Northwestern Serbia, is well known among international pimps. America has welcomed such a strategy to keep consumers and voters happy and the economy afloat.-When housing prices rise at a phenomenal pace and demand is strong, banks can turn around repossessed properties quickly and even make a profit.
What makes their wealth soar are not sudden jumps of the share prices held in their portfolios, but rising fees received for their work. The law was designed to protect the profits of British plantation owners across the empire, from the West Indies to Africa and India.
Therefore they were taxed only on the income they brought back to England while the rest was tax free. By moving to the UK, people can avoid taxation in their own country on billions of dollars.
Only Americans cannot benefit from this law, because the US taxes its citizens on global income.
In 2005 and 2006, for example, the economic rise of China created an unprecedented commodities boom. Once regarded by the US as a docile manufacturing colony, China is now the world’s largest consumer of steel, copper, and tin, and the second-largest importer of petroleum, helping to push prices to record levels. The main entry came through offshore facilities and shell banks located in the West Indies. In Oct 2001, the US Congress approved the Patriot Act, legislation that greatly restricted civil liberties in America.
For example, US banks and register banks can no longer do business with offshore shell banks. In addition, the Patriot Act gave American monetary authorities the right to monitor dollar transactions throughout the world.
Today, it is a criminal offence for a US bank or a US-registered foreign bank not to alert the authorities of suspicious transactions in dollars anywhere in the world.-Since it applied exclusively to the US, it did not curb terrorist financing, criminal activity, ad money laundering abroad. These dirty businesses simply shifted to Europe, where the newly unified European currency offered organisations already involved in money laundering unexpected opportunities for groth.-Data from the Guardia di Finanza show that from 2001 to 2004, money-laundering activity in Italy increased by 70%. In 1982, members of the Bulgarian elite began developing joint ventures with Bulgarian state enterprises and fictitious foreign firms located offshore.
To fund these partnerships, they borrowed money from Bulgarian state banks, that was then moved offshore. Between 1987 and 1988, these fictitious joint ventures swallowed about $10 billion of Bulgarian state finances.-In 2004, when China’s voracious demand for steel exploded, manhole covers started to disappear all over the world. The first displacements were felt in Taiwan, the next were in other neighbourhoods, such as in Mongolia and Kyrgyzstan. YSL, Estee Lauder, and Clinique, for colluding in maintaining high prices to the detriment of consumers. The French authorities fined these companies a total of $64 million for breaking EU antitrust laws. The price-fixing tactic they used, called police pricing, involves the cartel’s imposing an identical high retail price in every shop that stocked its perfume. Discounts are fixed by the cartel, and if shops grant higher reductions, they cease to have access to products.

Chinese-based organisations supervise the transcontinental shipment of people, while locally based Chinese groups manage the transit points of the human merchandise to the countries of destination.
After a few weeks, however, these immigrants can be fired and forced to work, often for the same employer, in the black market.
In other cases, they reach Europe with regular passports and tourist visas, which are confiscated by the traffickers at the border.
Passports and visas are then sent back to China, so that it appears that the ‘tourists’ have returned home. In 2004, the Dutch company Soil and Crop improvements patented teff, a cereal from Ethiopia, and all the derivatives of its flower. Fake medications generate $32 billion in profits and kill about half a million people every year. Most of the victims come from developing countries, where counterfeit medicines are regularly consumed. The gold industry is totally unregulated and relies on trading companies scattered around the world.-DRC gold reserves are among the largest in the world, with most of the country’s mines located in eastern Congo. Miners in East Congo sell their gold to negociants, small traders who constantly mingle in the mines. The negociants bring the gold to Ituri, a major gold market controlled by Congolese war lords. Children and adolescents from even poorer neighbouring countries, such as Mali, trek all the way to cocoa plantations to earn a subsistence salary. To eradicate the problem, one must also attack the root causes, a task that only local governments can accomplish.-An estimated 27 million people in the world are enslaved. Japanese Tobacco International owns the rights to sell several brands of Western cigarettes outside the West, and is one of the fastest growing companies in the world. It used to be called Philip Morris, a name that is still attached to two of its holdings, Philip Morris USA and Philip Morris International.
The company also own Kraft Foods.-Access to the secondary illegal market to the gold currency used in the gaming industry is easy.
Legitimate auction sites, such as eBay, host 30 million annually in the trade for goods that exist only in synthetic worlds. The volume of the illegal business has grown so vast and the laundering techniques are so advanced that wholesalers find it impossible to verify the origin of the coins.-A code number is read by credit cards every time a transaction takes place.
E-Gold is a digital gold currency issued by e-gold Ltd, a company incorporated in Nevis, Lesser Antilles, an offshore facility.
Only the ownership changes while the gold in the treasury grade vault stays put.-Online gambling is illegal in many American states, yet people can do it because the servers are offshore.
Taxes are low, as little as $50,000 a year, plus a small percentage of the annual revenues.-According to an analyst for Internet Pornography Statistics, yearly internet porn revenue in 2005 was $57 billion. The leading countries for movie piracy are China, Russia, Britain, France, Spain, Brazil, Italy, Poland, and Mexico. The movie industry loses a potential 93% of its market in China, 62% in Thailand, 51% in Taiwan, and 29% in India.-Linden dollars have an official exchange rate of 250 to the US dollar. At the end of 2006, the GDP of Second Life reached around $60 million, with an annual growth rate of 15%. Linden Lab’s currency trader, LindeX, charges a fee for every transaction, while independet traders make money on the spread between buy and sell.
Gangs of Russian Mafiosi supply half the cod purchased as lawful in traditional British fish markets, such as Hull and Grimsby. Russian-owned trawlers operating from the northern port of Muransk, ignoring strict quotas on fishing of cod, red fish and halibut.
From this port, an estimated 100,000 tons of cod is poached from the North Sea, above annual 48000-ton quota established by the UK and Norway. The fleets avoid tracking by renting or leasing vessels for a very short time and reflagging them. Even when they are caught, coast guards have trouble identifying the owners of vessels because they hide behind shell companies and offshore ventures.-The Pantagonian tooth fish and the bluefin tuna can sell for up to $10,000 and $15,000 per fish, respectively. According to the UN Environmental Programme, the annual production of e-waste ranges from 20 to 50 million tons.
Recyclable refuse heads for India and China, while the non-recyclable refuse ends up in Africa. Male fish exposed to such effluent produce a protein called vitellogenin, usually present only in females.-One in three fish consumed worldwide is farmed. Antibiotics, antifoulants, and sea-lice treatments are among the pollutants that escape into the sea. Production of a pound of salmon requires 5 pounds of oily fishes, such as sand eel, sardines, and herring. A bit on the Tarantino side and a lot on the Matrix trilogy , with the rythm of a “Bourne Ultimatum”.From the Russian and Chinese mafias, the Italian n’dranghetta, money laundering, patents and corporations, to paypal and e-Gold and “Second Life” with its avatar inhabitants, Linden dollars and surreal real estate transactions, it’s a 21st century wild west story of international pirates ( both virtual and nautical), fish sweatshops, hooligans, Plato, politics and Football ( understand as soccer).
It’s also about the slums of Nigeria and about how Africa would be better off, if ‘they’ just stopped paralyzing her with pseudo economic aid; Amazing figures and facts, as well as statistical data that will keep your head spinning. The book amasses stupefying numbers, page after page, shedding on the light in the darkest alleys of the globe. The author brilliantly connects the dots, in a most surprising, highly ingenious, and most unbiased and delightful manner.
A unique book that captures the immediacy of the global economic concerns with an unprecedented analysis of the facts. Napoleoni combines extraordinary reporting skills and a most powerful analysis to create an adrenaline filled book about today's Economy. And in the process, she paints a picture of today's world with the most artistic angles and shades.
Her book is a satellite view from space, but not taken by a satellite, rather an unusually skilled photographer. All I’ll say is that the epilogue has to do more with “Magic markets” than “Matrix markets” , not to forget ‘nanotechnology’.